1. What is true of the Foreign Commerce Clause in the context of the United States and foreign affairs?

It does not encompass state and local laws.

It gives the federal government exclusive power over foreign affairs.

It prohibits multilateral treaties.

It authorizes Congress to regulate commerce with foreign nations.

2. The country of Elamia has added a new feature to its constitution. This feature gives power to the central government to enter into treaties with foreign countries. It does not give this power to state governments. In addition, this feature states that any local law that goes against a centrally-formed treaty will be canceled. Which part of the U.S. Constitution does Elamia’s new constitutional feature closely resemble?

6. The World Trade Organization (WTO) implements various rounds of negotiations among its membership. Through these rounds, it aims to achieve major reform of the international trading system. What is the fundamental objective of the Doha Round of the World Trade Organization (WTO)?

3. Glitter is a clothing store advertising a week-long sale featuring low-price summer merchandise. Amy visits the store on the second day of the sale to buy discounted clothing. However, the store has very few of the low-price clothes remaining. When Amy inquires about the sale, she is, instead, directed to a section of very expensive clothing that is not on sale. Feeling pressurized by the salesperson to buy some of the expensive clothes, Amy ends up spending a lot of money at the store. What type of deceptive business practice is best illustrated in the scenario?

Credit and debt

Trade libel

Door-to-door sales

Bait and switch

4. What is an environmental impact statement most likely to contain?

Guidelines for maintaining environmental standards for state governments

A cost-benefit analysis of a proposed federal action that might affect the environment

Annual environmental reports provided by state governments

Conservation proposals made by environmental experts outside the government

5. Identify the federal act that was enacted to regulate the disposal of new hazardous wastes and empowers the Environmental Protection Agency (EPA) to regulate facilities that generate, treat, store, transport, and dispose hazardous wastes.

The Clean Air Act encompasses only stationary sources of pollution and not automobiles.

States are responsible for the enforcement of air quality standards even though the Environmental Protection Agency (EPA) sets the standards.

The primary task of enforcing the provisions of the Clean Water Act rests with the federal government and not state governments.

The federal Clean Water Act does not encompass the maintenance of wetlands.

7. What is true of the per se rule according to Section 1 of the Sherman Act?

It holds that even reasonable restraints violate Section 1 of the Sherman Act.

It applies to restraints that are intrinsically anticompetitive.

It applies to cases where restraints have both pro- and anticompetitive effects.

It applies to cases where justifications and evidence can be considered to evaluate restraints.

8. Envy, Bling, and Pattern are three established and well-known clothing manufacturers and sellers. They decide not to sell their clothes to Embellish, a clothing retail store. Which form of horizontal restraint does this scenario best exemplify?

Price fixing

Division of markets

Group boycotts

Conscious parallelisms

9. Some forms of business and activities like labor unions and agricultural cooperatives are expressly exempt from the reach of antitrust laws in the rules enacted by Congress. What type of exemptions are these?

10. When is a court likely to apply the piercing the corporate veil doctrine?

When a corporation is not generating adequate profits because of a drop in sales

When a shareholder has been found to be misusing corporate assets

When shareholders are not adequately participating in the management of the corporation

When an employee has violated corporation rules

11. What statement is true in the context of the board of directors of a corporation?

All members of the board should be officers of the corporation.

All members of the board should have the same set of specific qualifications.

Officers of other corporations can be elected as directors of the board.

Directors of the board should be residents of the state in which the corporation was incorporated.

12. Riya is a corporate officer as well as a senior academic author at Derive Inc., a content management company. The company develops question banks and learning material for students. Riya, without permission from the company, starts her own content management company. Derive then recovers damages and profits from Riya. Which act of disloyalty does this scenario best exemplify in the context of fiduciary duties?

The employee in an employer-employee relationship is authorized to act on behalf of the employer in all business situations.

The principal in a principal-agent relationship has no authority over contracts made by the agent.

The employee in an employer-employee relationship can sign contracts on behalf of the employer.

The agent in a principal-agent relationship is authorized to act on behalf of the principal.

2. In certain types of agencies, the parties involved do not sign a formal contract. However, it can be inferred from their conduct, that they are part of the agency. What is this kind of agency known as?

3. Beta Corp. and Woodrow LLC. have formed an agency. Both parties have agreed to the terms on which the agency will operate, and they have signed a contract. According to the terms of the contract, Woodrow, the agent, is authorized to act on behalf of Beta. Identify the type of agency illustrated in the scenario.

Agency by ratification

Express agency

Implied agency

Apparent agency

4. What is true about disparate-treatment discrimination?

It involves discrimination against an entire protected class.

It involves discrimination against an individual belonging to a protected class. It refers to discrimination against an individual who

does not belong to a protected class or minority.

It occurs when a company does not follow racially neutral employment practices.

5. What is true about color discrimination?

It can be justified by a bona fide occupational qualification.

It is essentially the same as discrimination based on race.

It is covered under Title VII.

It is prohibited but victims cannot recover damages even if discrimination is proved.

3. Jason, a 16-year old boy, enters into a contract with a businessperson to work on a construction project. According to the contract, Jason has to work long hours but will get paid a minimal amount because of his age. Jason, though unfamiliar with contracts, knows that the contract is not fair to him. He decides to cancel it. What gives Jason the right to void the contract?

Minor’s duty of restoration

Infancy doctrine

Adjudged insane

Covenant not to compete

4. What will most likely happen when there is a material breach by one of the parties in a contract?

The breaching party will restate the express terms of the contract.

The contract will be discharged by both parties.

The nonbreaching party will terminate the contract and recover compensation.

The breaching party will affirm the contract and modify consideration terms.

5. Venus LLC is a supplier for Synergy Corp. These companies have entered into a contract according to which, Venus will supply Synergy with a certain quantity of raw materials every month. In the month of May, Venus realizes that it cannot keep to the terms of the contract due to an unforeseeable worker strike. It informs Synergy of this delay much before the planned delivery date. What type of contract breach is illustrated in the scenario?

9. Caleb, a doctoral student, is sued by the author of a textbook for copyright infringement. The court rules that Caleb is not guilty since the content was used for the purpose of review in his research paper. In addition, he has written these paragraphs verbatim and placed them within quotes, citing appropriate references. What doctrine has the court most likely applied in this scenario?

Fair use doctrine

Res ipsa loquiter

Lanham doctrine

Misrepresentation doctrine

10. Identify the true statement about personal property.

Personal property does not include items that are captured, purchased, or gifted.

Personal property can also be intangible.

Personal property includes only real property.

A single piece of personal property cannot be owned by two individuals at the same time.

11.Sandra is having her home renovated. Despite the specifications she has given the contractors, they add a door to separate her kitchen from her living room. Since Sandra likes the look, she does not ask them to change it. She also does not pay them extra, since the door was added by them, mistakenly. Which of the following terms best explains why Sandra has a right to the added feature without paying for it?

Accession

Confusion

Mislaid property

Gift inter vivos

12. Identify the situation in which two goods that look similar are commingled by owners who share ownership of the goods based on the proportion of their contributions.

An owner of land owns the vegetation on the land only if the owner himself has cultivated the vegetation.

Real property does not encompass fixtures.

14. Mary owns a piece of land and enjoys complete legal rights to the land, without any conditions or limitations. Her ownership does not end unless she transfers the land to a beneficiary. There are also no limitations on the inheritability of the land. Which type of freehold estate does Mary most likely own?

Fee simple defeasible

Life estate

Qualified fee

Fee simple absolute

15. Gabriella and Priya own a piece of property together. The ownership terms state that in case of the death of one of the owners, the surviving owner will automatically gain complete ownership of the property. What kind of concurrent ownership is illustrated in this scenario?

18. Paulina purchased a rare and expensive gem when she was living in Mexico. Since then, she has relocated various times. Now, seven years later, Paulina cannot find the rare gem and does not know where she last saw it. After various attempts to find it, Paulina has decided not to look for the gem again. What will the rare gem most likely be categorized as in this scenario?

When private information about a person is made available to the public without the person’s consent

When the identity of an individual is used to make commercial gains without the individual’s permission

When false statements about an individual are made on a public platform

When a false document is signed using another person’s name

3. Natalia has sued a media agency for publishing false statements about her in one of its widely circulated newspapers. Natalia has sought damages from the media agency for violating her reputation. Identify the tort that is illustrated in the scenario.

9. Miranda has filed a lawsuit against a cellphone company that sold her a phone with defective features. Miranda has filed the case because she believes that the company intentionally withheld information about the poor features of the product. It was these defective features that caused Miranda’s hand injury. Identify the product liability tort that would best apply to this scenario.

11. In a product liability lawsuit, a seller was excused from paying damages to a customer for injuries caused by a defective product. This was because a number of years had passed since the seller had sold the product to the customer. What statute can best be applied to this scenario to protect the rights of the seller?

A. It is a form of business that is seldom found in the United States.

B. It is a form of business that has only one owner.

C. It is a separate legal entity, distinct from an owner.

D. It is a business form in which the owner enjoys limited liability.

2. Sara and Cilia run a café together. They share ownership of and liability for the café and have come to an agreement about how the profits from the cafe should be divided between them. If the café runs into debt, both Sara and Celia are responsible for the debt.

9. Alpha Corp. has very few shareholders and all of the shareholders belong to a single family. The shareholders are involved in the operations of the business and frequently make management decisions. What type of corporation does Alpha Corp. best represent?

12. Delta Group is a business firm created by a team of doctors. The business was formed as per the state’s laws and is not taxed as a separate entity. The owners of the business are not personally liable for the losses, debts, and obligations of the firm. Identify the business form that is best illustrated in the scenario.

13. Nutristar is a soft drink manufacturing company that wishes to expand its business. The company has licensed another firm to manufacture its soft drinks and provided the firm with the necessary confidential information about manufacturing. The licensed company manufactures the soft drinks and distributes them. What type of franchise is best illustrated in this scenario?

A. A processing plant franchise

B. A distributorship franchise

C. An area franchise

D. A chain-style franchise

14. Identify the business arrangement that involves two business firms pooling resources to work on a single, mostly temporary, business project.

15. Gamma Inc. has permitted another firm to operate under its name and use its trademarks and service marks. This firm can now use the intellectual property of Gamma Inc. to produce and distribute products. What business concept is best illustrated in this scenario?

A. Merging

B. Licensing

C. Divesting

D. Acquiring

16. Identify the true statement about negotiation as an alternative form of dispute resolution.

A. The final decision is always approved by a third party.

B. The two parties involved may be represented by attorneys.

C. The court does not permit the parties to negotiate before the trial.

D. The court has to approve an agreement before it is signed by the two parties.

17. Identify the form of alternative dispute resolution in which the two involved parties go to a neutral third party, who makes the final decision.

18. Synergy Inc. is involved in a dispute with Alpha Corp. Both companies have agreed to conduct a private proceeding involving representatives from each side. They have also appointed lawyers to present their arguments to these representatives. What type of alternative dispute resolution is most likely being used in this scenario?

3. Budgets can be used as tools within which two functions of management?

Controlling and organizing

Planning and leading

Controlling and planning

Organizing and leading

4. Indira Patel has been working in her organization’s computer security department for the past 10 years. If another employee follows Indira’s recommendations in a given situation, based on her expertise in computer security, which source of power is Indira using?

Legitimate power

Coercive power

Expert power

Referent power

5. If Carol Reece is a charismatic leader, which of the following characteristics is she most likely to possess?

An external locus of control

A sensitivity to environmental constraints and follower needs

A strong need to be in control

A fear of taking risks

6. According to the Ohio State studies, which of the following dimensions of leader behavior refers to the extent to which a leader is likely to define and structure his or her role and the roles of group members to meet goals?

7. On Monday, Jim’s Taco Shop identified a problem with tainted ground beef that was used to make tacos and nacho platters for its lunch customers. If the staff at Jim’s did not identify the problem until after the lunch rush, what type of control would this demonstrate?

Feedforward control

Concurrent control

Proactive control

Feedback control

8. The ________ determines the number of levels and managers in an organization.

chain of command

span of control

unity of command

delegation of authority

9. During benchmarking, an organization can compare its processes and products to competitors in its own industry and to noncompetitors outside the industry. What is a main benefit of comparing a firm’s performance against an organization it does not consider a competitor?

A noncompetitor may allow an organization to see its practices more readily than a competitor in the same industry.

A noncompetitor may be the world leader in a specific process or practice, and an organization can learn from it.

A noncompetitor may be easier to find and benchmark, because the top firms in the world are so diverse.

18. When planning for unexpected events, a company is using which of the following techniques?

Contingency planning

Benchmarking

Financial forecasting

SWOT analysis

19. Melvin manages a team of 10 employees, including Jane and Jared. Jared is leaving the organization to find a job as a manager in another field. Meanwhile, due to performance issues, Melvin terminates Jane’s employment with the company. Both of these are examples of what type of employee behavior?

28. An organization’s ________ goals are official statements of what an organization says its goals are.

real

stated

synthetic

implicit

29. Kelly is interviewing candidates to fill a vacancy on her team. One candidate has a degree from a prestigious university, and Kelly is impressed. In speaking with her fellow members of the interview panel, however, Kelly finds that no one else enjoyed the interview with the candidate, finding her to be pompous, aggressive, and self-serving. In her focus on only the candidate’s education, Kelly may have fallen victim to _______.

30. Which of the following stages is when the group structure is in place and accepted by the group members?

Norming

Storming

Performing

Adjourning

About Author

This article covers the topic for the University of Phoenix MGT 521 FINAL EXAM.The author is working in the field of education from last 5 years. This article covers the basic of MGT 521 FINAL EXAM Assignments from UOP. Other topics in the class are as follows:

1. Compared with other approaches to business, the marketing concept is distinct in that it:

Produces new products and services.

Focuses on satisfying customers’ needs.

Focuses on sales.

Creates a broad assortment of products.

2. The sales analysis of a product revealed that profits were highest when it was initially introduced into the market with a high selling price. However, the price was gradually reduced as it started facing competition as substitutes entered the market. This is an example of a (n) _____.

7. Marketers cannot assume that a product that meets consumer needs in one country will do so in another. This is because:

The purchase situations may be different.

Family life cycles may be different.

Many wants are culturally learned.

Economic wants do not influence purchases in many regions of the world.

8. The main difference between the “marketing department era” and the “marketing company era” is:

More emphasis on short-run planning in the marketing company era.

More emphasis on selling and advertising in the marketing department era.

Whether the president of the firm has a background in marketing.

Whether the whole company is customer-oriented.

9. David Oreck advertises Oreck vacuum cleaners via commercials that run on national radio programs. He encourages consumers to “…try my 8-pound Oreck vacuum for free for 30 days,” and to return it if they aren’t satisfied. He then provides an easy-to-remember toll-free telephone number that consumers can use to place orders. Regarding the AIDA model, the free-trial period and availability of a toll-free number are devices used mainly to:

10. More than 600,000 loyal customers signed up in advance to purchase the iPhone4 in an Apple store the first day it was available for sale in the U.S. What type of response behavior were these Apple followers demonstrating?

Routinized response

Low-involvement buying

Limited problem solving

Dissonance response

11. Because she frequently buys books at Amazon.com, Sophie Soleil set up an account and password at the website. Now, when she logs on and searches for a specific book, a note pops up at the center of her laptop screen saying: “Hello, Sophie, we have recommendations for you,” and proceeds to list other titles that Sophie might enjoy based on her previous purchases. Amazon can remember Sophie (and her previous purchases) because the online retailer uses:

Banners.

Cookies.

Encoding.

Decoding.

12. When an advertiser pays a fixed amount (e.g. 70 cents) each time a Web surfer clicks on the advertiser’s ad and links to the advertiser’s website, this process is called a(n):

16. Genetech Corp. has invested heavily to develop a patented new product. Genetech wants to achieve a rapid return on its investment. It probably should set a ______________ pricing objective.

Profit maximization

Sales-oriented

Status quo

Target return

17. When a company provides its advertising agency with a statement about a new product to use in designing an advertising campaign, and this statement includes a description of the target market, the product type, the primary benefits of using the product, and how this product is different from, and better than, competitive products, what type of statement is this?

Qualifying

Positioning

Clustering

Determining

18. The advantages of working with an intermediary usually increase when there is:

22. Clearwater Office Supply sells frequently purchased office supplies to businesses in a metropolitan area. It is a well-established company with a large share of the market. Its promotion should probably focus on:

Reminding.

Informing.

Stimulating primary demand.

Innovators.

23. The main difference between a “marketing strategy” and a “marketing plan” is that:

29. In which quadrant of the SWOT analysis tool does the following fit? A firm is in a fast-growing industry.

Weaknesses

Opportunities

Strengths

Threats

30. Blending the firm’s promotion efforts to convey a complete and consistent message is the goal of:

Sales promotion communications.

Integrated marketing communications.

Integrated promotional marketing.

Sales management communications.

About Author

This article covers the topic for the University of Phoenix MKT 421 Final Exam.The author is working in the field of education from last 5 years. This article covers the basic of MKT 421 Assignment Guide from UOP. Other topics in the class are as follows: